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Big in ag: Cooling temps & prices
Cooler weather's been common in the last week as the grain markets continue to struggle despite what many farmers say is a crop that's under stress and under the gun to reach maturity -- and trendline yield -- before frost hits this fall. See more of what's been big in ag in the last week.
Crop conditions have steadied in the last week, according to USDA, but a shift toward cooler temperatures has many farmers growing anxious about whether the corn crop will have accumulated enough GDDs by the time frost hits to manage top-end yield potential.
Widely varied moisture and temperatures right now have some crop forecasters calling for an average crop, but that yield's not going to be reached consistently. There will be a lot of extremes on either side of an expected 159.5 bu/acre yield, one forecaster says. How's your crop shaping up?
But, one analyst says the grain price decline underway right now is well-deserved. "Basically we have a above average crop in 2013 for most all crops -- not at all like the disaster we had last year at this time. So prices are pushing to new recent lows," Ray Grabanski says. Do you agree?
A hot topic this week's centered around reports about the number of acres being moved from grass and wetland into crop production, a trend that has major implications for crop insurance payments and future farm policy, namely a conservation-compliance provision in the farm bill. Check out both sides in this exclusive report.
This year's corn and soybean crops may be more susceptible to damage from a few key pests and diseases. Fungal and bacterial diseases are rising in corn, while aphid numbers are starting to rise around the Corn Belt. It's a good time to be scouting closely, experts say.
One crop that's performed well despite a tough year, at least in Kansas, is canola. Some of the stress that's ravaged yield potential for other crops hasn't slammed canola output in many areas in the last year. In fact, some of the stress caused by things like drought and early-fall freezes has actually strengthened the crop.
A major topic that a lot of farmers are talking about these days is the shape of the farm land rent market. With many experts calling for lower grain prices moving into fall, some say it could mean the reversal of a decades-long trend of higher land rents if renting farmers are going to make a profit. What's your land rent outlook?
CME Group has a new set of grain contract offerings that CME Group managing director David Lehman says offers farmers more flexibility and options when it comes to crop delivery and marketing. Agriculture.com's Mike McGinnis chatted with Lehman about those contracts and more in Chicago this week.
Temperatures are declining and grain prices are following. Is the yield potential really there?